Connie..other techns r also useful n cud be laggard eg bullish n bearish div on macd,rsi etc but ew is juz simply based on counts n u juz have to follow the rules.

Connie..we,most of the time,invest in stocks only for v short or short med term,thats a good point..Maybe if u follow more on v short term ew counts u wud feel more confident.

Connie..reading more books on EW is good but don't 4get,we all make mistakes including respected mr Elliott.He might had more to tell us if he is still around.

Zen...tq same2 to u...it is a black goat I believe.

CT..nice to hear fromu again...kroon is my best pick n red red angpow for u n my buddies.

Buddies..i wud be away for abt 10 days from 18 feb-1 march 2015 n probably u wud c my next update on 2nd march.Of course if I c something important to alarm u all I wud give u a shout even I m intensely involved with my mahjong.

Connie..it works well n it all depends on which crucial point u select n as for dji is 1k pips if u want to anticipate tps for w3 n w5 of any one count.

Krono...buy on v slight pullback with stoploss at 0.235.1st tp-0.34 n next 0.37.

sori,something I 4got to say...happy trading n good luck.

Good morning....klci...The final upleg,w5,within the ssw4 which began from 1671,cud be in progress now.The key supp/clsg point is at 1789. The first upside target is expected to be hit is at 1824,then follow by 1832 over the short-med term if the aforesaid key sup/clsg holds from now.As for today,it shudnt break below 1794 n res at 1803 n 1810 r expected to be tested over the next 2 trading days.

Med long term outlook:I suspect 1832 wud the final destination of ssw4 which commenced from 1670,exactly 100 pips from one of the crucial sup point at 1732 which gave support for w3 completion at 1831.

Fun...ic..tq

Mslee...what's the biscuit abt?

Good morning...klci...w3,the count from 1818 was completed at 1780 yest n today it shud take out res 1794 for a test at 1798.immediate support/res r at 1785 n 1794 resp.n there shud be one more downleg within current correction mode.Must go now..good luck.

Connie...u have to take the downleg from 1810 to 1779 as part of sw3 as w4 n w5 completed at 1831...that confirms 5 waves seq from 1706-1831 for sw3 of ssw4 on the alternate count.Now we r looking at sw4(downleg) of ssw4 n it must not break or close below 1753...if si_, ssw5 is confirmed in progress at this point.

Connie.if u look at the 5 yrs chart,it looks like it has completed the upleg(ssw4)from 1671 n that it shud start Its ssw5 downleg from now.But it may not be the case.The downleg from1810 to 1779 may not be the sw4 (too short ) it cud still be in sw3 which ended at 1831 n now it shud be at sw4 in progress n the final upleg shud start after it completes its consolidation phase.Next month wud be an interesting one.Can't rule out sw5 cud turn out to be a failure.

Connie.....Its easier to spot yr mistakes after it happens n u won't realize it not b4 u scrutinise other charts from 5 days to 5 yrs.One of those charts wud help u to detect or to determine the course.

Connie...tq...guess so. Sometimes when u c irregularities like abnormal wave lengths,due to good or bad driven news or incompletely formed etc+hard to describe+,that's when alternative count has to be applied

tsy..if u love it so much..juz buy on any pullback with a stop at 12.70

Connie...u haven't answered my q..at 9.21am..tq

tsy...if u want to bottom fish..KRONO..I LIKE.for short med or long term.

tsy...tenaga..the way it is falling it looks like it wud test previous low of 13.14 which if breached,it WILL HEAD TOWARDS 12.70ISH,a good level to consider at 13.20 with stop below 12.70.

Duit...good morning...my guess is,"they" bot from 1706 shud be taking profit now n wud reinstate later to hold up klci b4 gst takes off.

Connie...its hard to say...as I mentioned b4,if based on normal count it shud be all the way down but on alternate count,there is a chance for it to pick up again with new high.We have to use both sets of count in times like this.All hell loose if CI breaks or closes below 1753.Meanwhile don't try to bottom fish.Do u any idea abt alternate count after reading yr books on ew?

Correction...one can take a chance to bottom fish on completion of current correction phase ie if seen below 1780.

Good morning...my computer got hung up..m using my smart phone ..klci..yesterday's price action was the 1st signal of tr or a correction within sw4 on the alternate count.Either way,we must not chase rallies to buy.If current downleg from 1831 is a corr wave,a sw3 in place,it shudnt close below 1770 on completion of current consolidation phase.So.one cud take a chance to bottom fish on some good fa stocks b4 or after CNY.It doesn't look good if it closes below 1791 from now but it doesn't mean u shud add more to yr portfolio if it is not seen today or tom.Take the opportunity to clear your position on any rebound as short term ew price actions DONT show positive signal at the moment.Good luck.

Klci...now with supp 1805 breached, the next supp area lies at 1791-1794 which if breached,wud c further price erosion even breaking below 1779.Take care!!

Duit..tks for yr nice words..no sp conditions required from u..juz try to absorb what m thinking from my commentaries n most important,ask questions or correct me if u don't agree with me like my respected Connie n I really appreciate that.

Duit...tks ...u too have a fat choy!I will be away for 10 days or slightly more from 17th February 2015.

Connie...yes wave 1 is important ONLY IF it is violated AFTER completion of 5 waves sequence within an uptrend or downtrend,not when its expected to be in w4 in progress.

Connie..i don't know what u have read from books as I don't read at all in my life.Must respect other ew analysts.As far as I have observed, from stock or indices(esp dji),W2 within uptrend or downtrend r starting points for W3 n I deem it as crucial points.

CI is in the last upleg which began from 1779 n it shudnt overlap W2 top at 1858(from 1896) or even 1846,a w2 top within the major downleg(ssw3) from 1858 to 1671.Please trade cautiously.

Good morning..klci..I expect mkt wud remain in narrow trading range for the rest of this week.
Short term outlook:it appears to be building up momentum since it tested low of 1794 which held well n untested till now.It is possible 1794 is a pt where sw3 of w5(of ssw4) began n now in progress for test of new high.Support at 1805 must hold from now to be sure that the sw3 remains valid.I expect 1824 to be tested 1st over the next 2 trading days ie if the aforesaid supports hold.

Good morning...klci...it wasn't a bad closing yesterday at 1813.The immediate support is at 1805 n res is at 1818.M expecting to c supports at 1805 n 1794 be tested soon.Crucial closing sup pt is at 1803 which if breached,wud expect to c further erosion towards the lower floor of trading range 1779-1831.good luck.

Anyway...oil n stock mkts wont be dancing together later..maybe bursa does n it shud retest 1794 minimum...

Connie...hope everything is ok with him,knowing him,he is v close to CC.

Lyy...welcome...stay on sideline...nevermind if u miss any rally..think u wont regret.Enjoy yr cny!

Connie...any news from yong888?

Connie...m flat...can always rock again later...the mkt is always there for us to trade..take a rest n on the sideline.

Connie...ssw4 is still in place on the 5 yr chart..look carefully on the 5 wave sequence count..c the line chart.

Connie...we have been dancing/rocking since klci moved up from 1670 n we juz have to rest from dancing for a while.

Please take note of the crucial meeting between the giants-Russia,Germany & USA over Ukraine crisis.

Good morning...klci..please enjoy yr cny holidays n try to refrain from holding long positions until cny holidays r over.Albeit,normal or alternate count,there isn't much room for klci to move up or breaking the roof at 1842 or 1858.On the alternate count,the high of 1816 is exactly 0.618 of the length(correction) from 1831 to 1794.If I believe on the normal count,klci was sitting at the edge of the cliff,a wave 2 of one count of the downtrend.
V short term outlook....as I mentioned b4,w4 of the final upleg on the alternate count shud continue to be in progress between the trading range 1794-1831 or 1781-1831 n hopefully it wud commence with its final upleg to hit new high between 1838-1842 b4 we c TR.Key support is at 1794 n crucial clsg support lies at 1792.
Med-long term outlook:On alternate count,W3 of ssw4 was completed at 1831n that's how I come out with w4 to be in progress from now BUT not from my normal count w5 of ssw4 appears to be completed at 1831 n last Friday's high at 1816 cud be taken as w2 of one count on the downleg.

Good early morning...klci...It shud close abv 1810 today n immediate support lies at 1794.Going back to my alternate count as i mentioned on feb 4th,the pullback from 1830 shud be classified as w4 of ssw4 which might be confined between trading range of 1780-1830 b4 the final upleg ie w5 begins overlapping 1830 but,to what extent,is not known at the moment.Lets track closely how it performs from now within current consolidation phase of w4.

**note....on my normal count,ssw4 has actually completed at 1830.So,please trade cautiously**Must leave now!


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Connie...yeah i know...it shud be ok..tq.

Zen...hope m rite...look at myyyyy myeg...sob2.hehe...it will fly later,my buddies bot also at 2.56 on the recent pullback...Sharonse...r u ready to watch it fly?

Sori for the late reply...didnt notice yr q till tsy88 informed me.M Outside now.

Twobits...crude oil...The sw5(downleg) of the mjr W3 has yet to be seen n the target is at 40-42 dlrs area..Yes,sw3 of W3 appears to have completed its course at 44dlrs n now its in sw4 of W3 n i expect to c it move higher during spring season with top limit at 62-64 area.I did mention abt oil rebounding during present season in this thread b4.If u look at the 30 yrs chart its v clearly shown that oil prices wud remain within 3-6 yrs downcycle n 42 dlrs wont hold within this year n it shud touch down to 35-38 dlrs within this year.

Bert...don't panic yet...0.57 is expected to be tested.supp at 0.54 WILL hold..stoploss on a close below 0.52.It shud be well supported on further pullback..

Duit...good morning...good question...I have my usual morning exercise from 5.30 to 7.30am,breakfast b4 8am n I take abt 20 mins maxi to look thru all charts n reading global financial news n outlook of dji/s&p.I need to know what wud happen to the financial mkts b4 looking at klci charts.

MYEG..its easier to read the chart of MYEG than klci..it shud test 2.74-78 area soon.